Monday, April 13, 2015

Bank customers trust Madrid begin to recover and … – euronews

Reuters, 11/04 14:49 CET

 A person asks a security officer at the Bank's headquarters Madrid, a subsidiary of Andorran bank intervened by the CNMV, Banca Privada d'Andorra (BPA). EFE / File A person asks a security officer at the Bank’s headquarters Madrid, a subsidiary of Andorran bank intervened by the CNMV, Banca Privada d’Andorra (BPA). EFE / File

Madrid, April 11 ( EFE ) .- Madrid Bank customers who had saved up to 100,000 euros in the state start regaining trust their money in the coming days, after the Fund Deposit Guarantee ( FGD ) has been contacted them to ask an account where you make income.

In addition, workers of Banco Madrid will meet on Monday to form a council with at least thirteen of them and begin to negotiate the terms of his departure from the entity and has asked the bankruptcy administration, as they have explained to Efe sources of the template.

The same managers are those that last March 31 to 14,367 customers materialized Banco Madrid were entitled to recover their savings because there were over 100,000 euros, the maximum guaranteed law, which gave the starting signal for the FGD started to contact them.

Thus, after Easter some customers started to receive a letter in which they were asked to facilitate an account number in one of the country’s leading banks, Santander, BBVA , CaixaBank, Bankia, Sabadell and Popular- .

In the event that they had none, they were urged to open it if only for the sake of recovering their former savings bank Madrid, basically because these six entities are those with greater presence in Spain.

After receiving these letters, some customers contacted by Efe have expressed relief and confidence that they can start getting their savings in the coming days, even before the 20-day maximum prescribed by law .

Anything else will take, however, holders of investment funds carrying the manager of Banco Madrid, which probably will access their funds in mid-May, as calculated by the president of the CNMV , Elvira Rodriguez.

Among the actions initiated in early March with the takeover of Banco Madrid, Spain subsidiary of Andorra BPA , the stock supervisor agreed last March 16 the intervention of both the fund manager’s investment bank and enterprise investment services Interdin, for which he has been interested Dutch broker DeGiro .

Although it remains to be seen whether this can be a reality for Banco Madrid is undergoing liquidation, ordered by the judge designated to handle your bankruptcy, Carlos Nieto, once the FROB ransom fund -the informed him that he was not going to rescue the bank dedicated to wealth management.

The company was taken over by the Bank of Spain on March 10, just after the United States accused his Andorran matrix, BPA , to launder money from organized crime, and after the Sepblac, the intelligence unit Spanish financial, had detected irregularities in Banco Madrid.

The Sepblac had put the focus on the Spanish entity for some time because its sole shareholder was based in Andorra and also Banco Madrid was in the business of banking Private, considered high risk by the international regulations for the prevention of money laundering.

euronews published from Reuters as, but not intervene in Articles published.

Copyright 2015 EFE.

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